No major economic data will be released today, but the results from the 3 year Treasury auction will come out later this morning. Weakness in global equity markets has helped Mortgage Backed Security prices slightly this morning with the market being up 9 basis points.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired. To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze!

The following information is current as of Tuesday 3-12-2013 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Monday with a WORSENINGto pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's WORSENINGnetted a change of 6 basis points (bps).

(hint: upward activity is good, downward activity is bad)

The following chart shows a summary of today's activity:

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Market Commentary (Neil Trenerry)

FNMA 30-Year:

2.5 Coupon: Open 98.0625 Change 0.2500

3.0 Coupon: Open 102.2656 Change 0.1875

3.5 Coupon: Open 104.8594 Change 0.1094

Treasuries:

5 Year: Open 99.3750 Change 0.0938 Yield 0.8790

10 Year: Open 99.7031 Change 0.2500 Yield 2.0330

30 Year: Open 97.8906 Change 0.4844 Yield 3.2350

Key Economic Data

EUR/USD: Open 1.30353 Change 0.0010

40GBP/USD: Open 1.4887 Change -0.0025

USD/JPY: Open 95.980 Change -0.300

Oil: Open 92.64

Key Economic Data:

NFIB business optimism for Feb: Actual 90.8, Last 88.90.

ICSC chain stores

Week-on-week: Actual 0.7%, Last 0.2%.

Year-on-year: Actual 1.8%, Last 1.8%.

Redbook

Month-on-month: Actual 0.6%, Last 1.3%.

Year-on-year: Actual 2.7%, Last 2.2%.

Advice:

Treasuries rose, snapping six days of declines, after data showing U.K. industrial productionun expectedly fell in January reignited concern global growth will slow, spurring demand for the safest assets.Benchmark 10-year yields fell from within two basis points of the highest level in 11 months. The U.S. is scheduled to sell $32 billion of three-year notes today, $21 billion of 10-year debt tomorrow and $13 billion of 30-year bonds on March 14. Yields surged last week as stronger-than-expected jobs data increased optimism that the U.S. economy is gathering pace. These are semi-attractive levels, said Justin Lederer, an interest-rate strategist at primary dealer Cantor Fitzgerald LP in New York. The U.S. is not ready to break significantly higher in yields. The three-year will go fine. There are just buyers out there. I dont see the Fed raising rates anytime soon, so that should keep the front end intact. Treasury 10-year yields fell two basis points, or 0.02 percentage point, to 2.04 percent at 8:27 a.m. New York time, according to Bloomberg Bond Trader data. The 2 percent note due February 2023 rose 6/32, or $1.88 per $1,000 face amount, to 99 21/32. The rate climbed to 2.08 percent on March 8, the highest level since April.

No news today. Stocks are down a bit which is finally giving bonds some breathin room. The 10 year price is up for the first time in 7 days! This looks like the bottom, as we have now bounced from both the bottom of the channel and the support level. We could test it again, but overall, I feel we will work our way up tot he top of the channel. Tomorrow is Retail sales...pay attention to that number.

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity.

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